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Monday 09 February, 2015

MPLX LP

MPLX LP Prices Initial $500 Million Senior Notes Offering

MPLX LP Prices Initial $500 Million Senior Notes Offering

FINDLAY, Ohio, Feb. 9, 2015 - MPLX LP (NYSE: MPLX) announced today that it has priced $500 million aggregate principal amount of 4.000 percent unsecured senior notes due February 15, 2025, in an underwritten public offering pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (SEC). The 2025 senior notes were offered at a price to the public of 99.640 percent of par.

MPLX intends to use the net proceeds before expenses of approximately $494,950,000 from this offering to repay all or a portion of the amount outstanding under its revolving credit facility. The remaining net proceeds will be used for general partnership purposes, which may include, from time to time, capital expenditures, acquisitions and repayment of debt.

The closing of the senior notes offering is expected to occur on February 12, 2015, subject to satisfaction of customary closing conditions.

Barclays, BNP Paribas, Goldman, Sachs & Co., Fifth Third Securities, PNC Capital Markets LLC, Scotiabank, and US Bancorp are acting as joint book-running managers for the offering.

This offering is being made only by means of a prospectus and related prospectus supplement, which may be obtained for free by visiting the SEC's website at http://www.sec.gov. Alternatively, copies may be obtained by contacting the following, who are acting as representatives of the underwriters:

Barclays
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
1-888-603-5847

BNP Paribas 
787 Seventh Avenue
New York, NY 10019
1-800-854-5674

Goldman, Sachs & Co.
Prospectus Department
200 West Street
New York, NY 10282
(866) 471-2526

This news release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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About MPLX LP

MPLX is a fee-based, growth-oriented master limited partnership formed in 2012 by Marathon Petroleum Corporation to own, operate, develop and acquire pipelines and other midstream assets related to the transportation and storage of crude oil, refined products and other hydrocarbon-based products. Headquartered in Findlay, Ohio, MPLX's assets consist of a 99.5 percent equity interest in a network of common carrier crude oil and products pipeline assets located in the Midwest and Gulf Coast regions of the United States and a 100 percent interest in a butane storage cavern located in West Virginia, with approximately 1 million barrels of natural gas liquids storage capacity.

Investor Relations Contacts:
Geri Ewing (419) 421-2071
Teresa Homan (419) 421-2965

Media Contacts:
Chuck Rice (419) 421-2521

This press release contains forward-looking statements within the meaning of federal securities laws. These forward-looking statements relate to, among other things, expectations, estimates and projections concerning the business and operations of MPLX. You can identify forward-looking statements by words such as "anticipate," "believe," "estimate," "objective," "expect," "forecast," "plan," "project," "potential," "target," "could," "may," "should," "would," "will" or other similar expressions that convey the uncertainty of future events or outcomes. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the issuer's control and are difficult to predict. Factors that could cause MPLX's actual results to differ materially from those in the forward-looking statements include: the adequacy of our capital resources and liquidity, including, but not limited to, availability of sufficient cash flow to pay distributions and execute our business plan; the timing and extent of changes in commodity prices and demand for crude oil, refined products, feedstocks or other hydrocarbon-based products; volatility in and/or degradation of market and industry conditions; completion of pipeline capacity by our competitors; disruptions due to equipment interruption or failure, including electrical shortages and power grid failures; the suspension, reduction or termination of MPC's obligations under our commercial agreements; our ability to successfully implement our growth plan, whether through organic growth or acquisitions; modifications to earnings and distribution growth objectives; federal and state environmental, economic, health and safety, energy and other policies and regulations; changes to MPLX's capital budget; other risk factors inherent to our industry; finalization of our financial statements for the quarter and year ended December 31, 2014; and the factors set forth under the heading "Risk Factors" in MPLX's Annual Report on Form 10-K for the year ended Dec. 31, 2013, filed with the Securities and Exchange Commission (SEC). In addition, unpredictable or unknown factors not discussed here or in MPLX's Form 10-K could also have material adverse effects on forward-looking statements.





This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: MPLX LP via Globenewswire

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